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How Consultancies Charge Millions For Nothing (And Get Away With It)
Bozhidar Ivanov
May 02, 2023
According to The Big Con, an exposé of the consulting industry, these firms are, at best, a boring part of the corporate landscape, and at worst - parasites that weaken governments and legitimize controversial decisions.
This is not what I find the most shocking about their work.
Governments and billion-dollar companies can face big challenges. Paying for advice from professionals with decades of experience is a wise decision.
In reality, while some consultants have decades of experience, a lot of them are just hyped-up graduates, fresh out of Ivy League universities. The Great Con exposes examples of clueless consultants, wandering around like zombies and contributing little.
How these firms get away with it?
Through confidence! Consultants tell companies what they want to hear and convince them they have the answers. And yes, they charge millions.
The lesson? Be confident! If a 31-year old Harvard graduate can be in charge of managing Puerto Rico’s bankruptcy, then you can make a valuable contribution to your company or succeed in your personal projects, as I did, when creating my first newsletter. Hope you enjoy it! If you have any feedback, you can message me on Linkedin or email me on [email protected]!
Shelf Shocks
1. Discipline is Destiny by Ryan Holiday
Ryan Holiday is on a mission to bring the virtues of stoicism to a modern audience, first with his best-selling guides “The Obstacle is the Way” and “Ego if the Enemy”, and now with the Stoic Virtues Series.
Discipline is Destiny is the second book, which argues that in order to master the world, first we need to master ourselves. It gives examples of historical figures, artists and athletes, who have exhibited impressive feats of discipline and self-mastery.
He writes clearly and engagingly, making the stories resonate with you and inspire action.
2. How to Make Work Not Suck: Honest Advice for People with Jobs by Carina Maggar
This is a fun, playful little book, which gives us a variety of quirky tips for the modern world of work. Carina Maggar claims she has made many mistakes in her 20s and now shares her experience with people starting their career. To give the book more credibility, she sprinkled career advice from successful entrepreneurs and CEOs like Rory Sutherland (Oglivy UK), Toni Petersson (Oatly) and Luke Hyams (YouTube).
Along with wisdom ranging from “Don’t assume, ask!” to “Don’t be a D*ck”, this book stands out with silly illustrations, which will help you realize the world of work shouldn’t be scary, restrictive and grey, but be shaped by your goals, skills and personality.
3. Freedom to Think by Susie Alegre
We have the right to think our own private thoughts. But what happens when our digitalized society bombard us with misleading and often false information, which aims to influence our opinions? This is what human rights lawyer Susie Alegre explores.
She tracks the evolution of legal freedoms and asks: what is the definition of free thought? And more importantly, she probes whether the modern data harvesting companies have gone too far in influencing our moods and thoughts, and if political regulation can stop their assault on our minds.
Helpful Articles
When I plan my time in my head everything is perfect… until I get tired and loose focus during important tasks.
This article from the MailChimp blog argues that learning to manage your energy can be a more effective approach: identifying what increases and drains your energy, setting boundaries and delegating tasks can improve your productivity. You can also find a fun template to help you understand your energy levels.
You don’t need years of copywriting experience to make an awesome post. Just follow this super guide form Orbit Media! They explain what your post needs, what are the best practices, how to choose visuals, make the most of hashtags and emojis, and more.
Want to generate high ROI from your SaaS content marketing? Sure you do! The mistake most marketers make is creating content for the awareness stage, when customers are already at the consideration and conversion stages.
Targeting the middle and bottom of the sales funnel is often a better strategy. This article from Grow and Convert gives examples and templates to structuring titles that will rank for your goal, e.g. [Industry] Software for [Integration] or “[Use case] software for [Industry]”.
They also cover it in video.
Fun Links
Have you ever thought that LinkedIn is weirder than other social networks? While I think that posting unrealistic photos to flex your flamboyant lifestyle on Instagram or insulting people over their views on Twitter is a lot weirder than sharing professional achievements or useful content on LinkedIn, this video explores the mindset behind the platform's users. If your feed is not very fun, you can add me for a does of fresh content ;)
If your highest artistic achievement is drawing a stick figure (like mine), you can learn a lot from 99 Design’s videos, in which they briefly explain design elements, future trends, and practical tips on making your designs shine.
If you want to see hundreds of people who have much more aesthetic work setups than you, then do I have the website for you! You can also submit your workspace and flex on others, making your investment in colored LED lights seem more justified.
You've reached the end of my newsletter. Hooray! If you have any comments or would like to share what you enjoyed the most, feel free to get in touch! See you in two weeks!